- CZ took a plea deal to settle enforcement action against Binance.
- CZ gets buff during his prison spell.
- CZโs new goal is to help entrepreneurs build.
The Department of Justice came down hard on Binance in late 2023, accusing the exchange of money laundering and sidestepping registration rules. Binance was fined a hefty $4.3 billion, and co-founder Changpeng Zhao (CZ) agreed to a plea deal that saw him step down as CEO and pay $50 million out of pocket.
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The plea deal also resulted in a four-month prison sentence, which CZ wrapped up in September. Since then, heโs kept a low profile until Binance Blockchain Week in Dubai, where he made his public comeback looking noticeably bulked up. True to the classic โprison workoutโ stereotype, CZโs new look turned heads and sparked plenty of comments.
Former Binance Boss Got Ripped
Making his public comeback at Binance Blockchain Week, CZ was spotted looking remarkably fit, enough to catch the attention of We Rate co-founder Quinten Franรงois, who posted a shot of the ex-CEOโs new look.
When fans started asking about his fitness secrets, CZ was quick to jump in. He shared the details of his prison workout routine, explaining that he does 300 push-ups over 30 minutes, either spreading them out or hitting a strong first set of 70 before tapering off.
However, CZ clarified that itโs only a weekly routine, and he joked that his muscles โdonโt recover fast enough.โ He added that getting buff was one of the โpositive takeaways from a negative period.โ
New Goals
Talking about his prison experience at the conference, CZ summed it up as โnot goodโ in terms of having restrictions placed on his freedom and choices. However, he admitted that the experience allowed him to reflect on whatโs important in life and, clearly, time for upper-body conditioning.
CZ kept things diplomatic when asked about his plea deal, saying he couldnโt criticize it since heโd agreed to it. However, he pointed out that he was the first person in US history to be jailed for failing to implement an anti-money laundering program, which was the single charge he faced.
With prison behind him, the former Binance boss stated that he spends his time on his Giggle Academy education platform and investing in blockchain, AI, and biotech companies.
CZ expressed his eagerness to support budding entrepreneurs in building their ventures. With funding, mentorship, and valuable connections at his disposal, heโs committed to giving back to the startup world and helping new founders carve out their own paths to success.
On the Flipside
- CZ no longer has the hunger or drive to lead a new venture.
- Binance became the biggest exchange by volume six months after launching in July 2017.
- CZ holds an estimated 90% stake in Binance.
Why This Matters
CZ’s journey demonstrates that resilience, reinvention, and personal growth can flourish, even when faced with the most daunting legal and professional challenges.
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